GBPUSD
Today's fresh extension of sharp two-day fall from 1.5816 peak, has eventually met n/t target at 1.5423, low of 07 Aug and completed 1.5423/1.5816 upleg, also cracking psychological 1.54 handle, in extension.
The way is now open towards next support at 1.5368, 200SMA, with further bearish acceleration to possibly open next strong support at 1.5327, low of 08 July.
Daily indicators are entering negative territory, along with setup of daily MA's in bearish mode and expanding 20d Bollingers, seen supportive for further weakness.
Broken daily 100SMA, now marks initial resistance at 1.5467, ahead of daily high at 1.5507 and daily cloud base at 1.5548, which should cap any stronger recovery attempt.
Res: 1.5467; 1.5507; 1.5548; 1.5573
Sup: 1.5398; 1.5368; 1.5327; 1.5300
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